The graph of \[y^4 - 4x^4 = 2y^2 - 1\]is the union of the graphs of two different conic sections. Which two types of conic sections are they?

(Write your answer as a list, with "C" for circle, "E" for ellipse, "H" for hyperbola, and "P" for parabola. For example, "C, H" if you think the graph consists of a circle and a hyperbola. You may use a letter twice.)
Solution: We can rewrite the given equation as \[y^4 - 2y^2 + 1 = 4x^4.\]The left-hand side is the perfect square of a binomial: \[(y^2-1)^2 = 4x^4.\]Therefore, either $y^2-1=2x^2$ or $y^2-1=-2x^2.$ That is, either $y^2-2x^2=1$ or $y^2+2x^2=1.$ These are the equations for a hyperbola and an ellipse, respectively, so the answer is $\boxed{\text{H, E}}.$